Khazanah sells 16% of IHH to Mitsui for RM8.42b

The deal will make the Japanese firm the single-largest shareholder of Asia's largest private hospital group

Anita Gabriel

Published Thu, Nov 29, 2018 · 09:50 PM

Singapore

IN what marks the first portfolio rejig under a new chief, Malaysia's sovereign wealth fund Khazanah Nasional is selling a 16 per cent stake in Malaysia- and Singapore-listed IHH Healthcare to Japan's Mitsui & Co for RM8.42 billion (S$2.8 billion).

The deal will see the Japanese trading house up its stake in Asia's largest private hospital group - with 50 hospitals under its belt including in Singapore, Malaysia, Turkey and India - to 32.9 per cent. Mitsui is also set to depose Khazanah, which counts IHH as one of its most prized assets, as the single-largest shareholder. The sale will drop Khazanah to No 2, with a 26.05 per cent stake.